Most Contracts Are

question 52

Multiple Choice

Most contracts are

• A) bilateral.
• B) unilateral.
• C) unenforceable in court.
• D) legal only if signed by a judge.

---

Definitions:

Sequential Move Game

A strategic game in game theory where players make decisions or moves one after another rather than simultaneously.

Centralized Purchasing

A procurement strategy where purchasing decisions and processes are handled by a single, central department within an organization.

Equilibrium

a state in economics where supply equals demand, resulting in a stable market condition.

Trigger Strategy

A strategy in repeated games where a player's response is conditioned on past behavior, such as retaliating or cooperating based on the other player's previous actions.